First Home Bank reports record earnings
February 2, 2021 - St. Petersburg-based First Home Bank set new earnings records in both the fourth quarter of 2020 and the entire year, driven by mortgage banking income and loan origination fees and interest income associated with the Paycheck Protection Program. Fourth quarter net income was $5.61 million, a 79 percent increase over the same period in 2019, when net income was $1.17 million. Total net income for 2020 was $12.70 million, compared to $4.48 million in 2019 — an increase of nearly 65 percent. Total assets grew to $1.54 billion, up from $1.01 billion in 2019.